MEDIA RELEASE: The Great Barrier Reed valued at $56billion - Deloittee report finds
Deloitte Access Economics has released a report estimating the value of our greatest natural treasure, the Great Barrier Reef, is worth $56 billion. In addition, the report estimates the Reef contributed $6.4billion to the Australian economy in 2015-16 supporting 64,000 full time jobs.
This report confirms Labor’s long standing warnings regarding the immense economic consequences of deterioration to the Heritage listed site. The Turnbull Government can no longer ignore the value the Great Barrier Reef ads to the Australian economy and must take real and strong action to protect our reef.
The Turnbull Government has been advised over and over again; severe bleaching events largely driven by climate change now affect two-thirds of the Great Barrier Reef, with this year’s bleaching event extending 500km south of last year’s.
Another great danger to the Reef is land clearing; the practise of removing trees and shrubs that hold the land together, causing sediment to flush out onto the reef. This is happening in Great Barrier Reef catchment areas.
Reefs require clean water to repair and thrive. Without land clearing laws and Coral Sea protections in place, the Coalition is depriving the reef of the clean water it requires to bounce back from bleaching events.
The Australian Government’s reckless treatment of the Reef puts the Reef at risk of being placed on the world’s danger list. The reef being is being attacked from every angle, from the west by the Government failing to act on land clearing, from the east by suspending the Coral Sea Marine National Park and from above by refusing to act on climate change.
The combination of the Coalition removing protections for the Coral Sea, trashing Labor’s land clearing laws and having no plan for climate change puts the Great Barrier Reef in danger. Not only is the Turnbull Government willing to put a national icon in danger, they are willing to risk a national asset worth $56 billion as well as 64,000 jobs.
It is not good enough. We need real action to protect the Great Barrier Reef and we need it now.
MONDAY, 26 JUNE 2017